Heard on the Street: DP World should return to Plan A

DP World's decision to delay listing on the London Stock Exchange could reopen the door for private equity to invest in the world's fourth-largest ports operator. Last year, Dubai-based Abraaj Capital came close to buying up to a 15% stake in the company for about $1.2 billion.

By

The Wall Street Journal

June 28, 2010 5:36 pm GMT

DP World's decision to delay listing on the London Stock Exchange could reopen the door for private equity to invest in the world's fourth-largest ports operator. Last year, Dubai-based Abraaj Capital came close to buying up to a 15% stake in the company for about $1.2 billion.

The injection of funds could have bought DP World's parent Dubai World time to restructure its loans behind closed doors. Instead, the conglomerate was forced two months later to seek a standstill on more than $26 billion of debt.